Growing a network marketing business
You’ll need your thinking caps on for today. Yes, you will be getting homework! Yippee!!
Growing a network marketing business sounds hard
I’ve debated, for a while, as to whether or not I should do this. As I’ve added more and more actionable material, I have finally decided to go ahead and add in homework … periodically. Just to make sure that you are putting those actionable things, into action. They are not going to help you if you won’t give them a good try.
I’ve done this for my team. It works on several different levels. It gives everyone practical training. The exercises allow me to see who is working the business and who isn’t. It also allows everyone to customize and tweak things as we move forward. The key is that it keeps everyone moving!
Keep in mind that you can lead a horse to water but, you can’t make him drink!
Today, I want to discuss the process of building a network marketing business.
There are 4 main stages in this process. They are the contact phase, the presentation phase, the follow up phase and the enrollment phase.
In the contact phase, you will be on a fact finding mission. I’ve written a few articles on this subject. You can find them here. How to build rapport … fast and Practicing your skills – building relationships
It doesn’t matter whether you are in your warm market or in the cold market, you will be trying to find out what problems each person is dealing with. Your main objective is to find out what they need. Remember, you aren’t here to sell anything. You can focus on the following things. Family, Occupation, Recreation or Retirement and Money. That’s the old FORM method. I also ask people about time as most people are lacking in either time or money.
You may be able to ask for an appointment during the first contact. That is if you do it correctly and are dealing with a qualified prospect. But don’t feel like you have to ask at the first contact. If you know this is the only time that you will talk to them, then you may as well ask for an appointment.
Once you have an appointment set, you will need to decide who will give the business presentation. You may feel like you are the best one to give the presentation or you may not feel the least bit comfortable doing it. I would suggest finding the highest qualified person to do the job. This may mean finding someone in your upline to do it or you can hop on a company webinar. Home meetings and hotel meeting are good as well. They both have built in “social proof.”
After your prospect has seen your business presentation, you will enter the “follow up phase.” You may do this right after they see the plan or, more than likely, they will want some time to think about it.
In that case, set up a day and time to talk to them about the business.
If you can do a follow up on the spot, right after they see the presentation, all the better, as you have the person who gave the presentation to answer all of their questions. If you are following up after the presentation, then you can have anyone you can find to do the follow up.
In the follow up, you should focus on what the prospect liked about what they saw in the presentation and how starting their own business will solve whatever problems they told you about during the contact phase.
Hopefully, you are able to “close” them and move them on to the enrollment phase.
The enrollment phase, is just that, enrolling them, into your business, as an associate. You’ll probably want to sit down with them as they fill out the online paperwork. Just to make sure that they do it correctly and to make sure that they really do it!
That’s when the fun begins. You’ll need to train them and get them started in the right direction.
Those are the 4 phases of building an MLM business. You’ll go through them over and over again as you build your team.
The only phase that you will need to do completely on your own, is the contact phase. The other phases can be delegated to other people in your organization. That being said, I’d suggest that you practice all 4 phases and get to the point where you can do all of them on your own. This will dramatically increase your value to people. That will translate into more and easier recruiting.
When you get to the point that you are actually doing all 4 phases yourself, I want you to track everything that you do. I want you to keep track of all the numbers in each category. I want you to track and record how many people you made contact with each day. Track how many you are able to move on to seeing your business presentation. Then, record how many people you do a follow up with and how many of those actually become associates.
Your numbers will tell you how your are doing at each phase. You may make contact with 10 people in a week but only 2 were willing to see the business presentation. This tells you that you are not talking to the right people or that you are not finding out their pain or problems. You may not be making the case that you have the solution for them.
You may contact 10 people and 6 see the business plan but only 1 had any interest in following up with you. This would indicate that the presentation is lacking in some way.
Or of the 6 people who saw the presentation 4 allowed you to follow up with them but of those that you followed up with, none enrolled. This means that you are not overcoming their objections or you are not showing them how your business is the solution to their problems.
Tracking your activity is critical to your success! This will tell you in which phase you are having problems. This will make it easier to correct what you are doing. You can ask someone in your upline, who is good at whatever you are having problems with, and together, figure out what needs to be changed.
Now for your homework.
This is for people who have had little or no success, as of yet. Obviously, if you have moved up the pay scale, then you probably have a system that is working for you.
With that said …
Over the next 2 weeks, want you to make contact with 2 people per day. You will need to do this at least 5 days per week. They can be in your warm market, if you’d like. But eventually, you will need to move to the cold market.
Your “job” is to find out what problems or pain each of them has.
Then, I want you to start a Rolodex. You need to record their name and their problems. If you are able to get any form of contact information, that would be great but, you don’t have to push for it. This is mainly for practicing the contact phase. You need to get comfortable with it.
In these first 2 weeks, you don’t need to mention your business and you do not have to get an appointment to show your business plan. We’ll be moving into that phase after the first 2 weeks are over.
You will be going back to each of these first contacts and explaining to them that you have the solutions to their problems.
I hope that you see that building a network marketing business is just a step by step process. The skills that are needed are not difficult to master. You just need to practice them, consistently.
Find someone in your upline that can keep you accountable with your practicing. Or leave a comment below and let me know that you are going to practice this and I will be more than happy to help with that!
Build a network marketing business for your family. Build it for your self. But please start building it now!
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